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NikAS [45]
3 years ago
10

Chipper Corporation realized $1,000,000 apportionable taxable income from the sales of its products in States X and Z. Both stat

es use the same measure of pre-apportionment taxable income. Chipper’s activities establish nexus for income tax purposes only in Z, the state of its incorporation. Chipper’s sales, payroll, and property among the states include the following.
State X State Z Totals
Sales $1,000,000 $2,000,000 $3,000,000
Property 0 2,300,000 2,300,000
Payroll 0 1,900,000 1,900,000
Required:
1. X utilizes a sales-only factor in its three-factor apportionment formula. How much of Chipper’s apportionable income is taxed by X?
a. $0
b. $333,333
c. $500,000
d. $1,000,000
e. $111,111
Business
1 answer:
SIZIF [17.4K]3 years ago
6 0

Answer:

a. $0

Explanation:

The business would not be subject to taxation in a state until nexus is established; thus the Chipper’s Apportionable income <u><em>(which means income of any class or type or any activity, that fulfils the connection or criteria described either in the "functional test" or "transactional test,”.)</em></u>  that is taxed by X equals $0

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8 0
3 years ago
Especially in terms of retail properties, which of the following attributes is considered the most likely to result in drastic v
weqwewe [10]

Answer:

C. Location attributes

Explanation:

According to my research on property value attributes, I can say that based on the information provided within the question the attribute that can drastically change a properties value is the Location Attribute. This is because Real Estate value depends mostly on it's location. For Example, if a house is in a good neighborhood it can be worth a lot more than a house in another location, but if that same neighborhood then becomes a drug trafficking/gang hotspot the price of that house drops drastically because no one wants to purchase it.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

8 0
3 years ago
In the​ past, Peter​ Kelle's tire dealership in Baton Rouge sold an average of 1 comma 000 radials each year. In the past 2​ yea
Lina20 [59]

Answer:

Explanation:

For computing the demand for each sale, first we have to compute the average sale for each season which is show below:

Average sale in fall = (240 + 260) ÷ 2 = 250

Average sale in winter = (340 + 300)  ÷ 2 = 320

Average sale in spring = (140 + 160)  ÷ 2 = 150

Average sale in summer = (320 + 240) ÷ 2 = 280

Demand for next fall = (250  ÷ 1,000) × 1,200 = 300

Demand for next winter = (320  ÷ 1,000) × 1,200 = 384

Demand for next spring = (150  ÷ 1,000) × 1,200 = 180

Demand for next summer = 1,200 - (300+384+180) = 336

6 0
3 years ago
The federal government currently levies a 15.3 percent payroll tax (7.65 percent on both the employer and employee) on the wages
Lynna [10]

Answer:

c. fall primarily on employees

Explanation:

As the demand for labor is elasticc (if the business is not profitable will close) while the supply of labor more inelastic (worker had to work to sustain their living standards) the burden of taxation while in fact is assumed to be distributed equally what occurs is that labor is decrease to make the total cost (base wage plus taxes) the amount the employeer are willing to pay for the employee

4 0
3 years ago
Read 2 more answers
Break-Even Sales and Sales to Realize Income from Operations
strojnjashka [21]

Answer and Explanation:

The computation is shown below:

a.

Contribution per unit

= Selling price per unit - Variable costs per unit

= $300 - $200

= $100 per unit

Now  

Break even point (units)

= Fixed costs ÷ Contribution margin per unit

= $14,000,000 ÷ $100

= 140,000 units

And,

b)

Sales units required for a target profit of $1,400,000

So,

= (Fixed costs + Target profits) ÷ Contribution margin per unit

= ($14,000,000 + $1,400,000) ÷ $100

= 154,000 units

4 0
2 years ago
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